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Henry, Luther, and Gage are dissolving their partnership. Their partnership agreement allocates each partner 13 of all i
Posted: Tue Jul 05, 2022 11:48 am
by answerhappygod
- Henry Luther And Gage Are Dissolving Their Partnership Their Partnership Agreement Allocates Each Partner 13 Of All I 1 (9.83 KiB) Viewed 11 times
Henry, Luther, and Gage are dissolving their partnership. Their partnership agreement allocates each partner 13 of all income and losses. The current period's ending capital account balances are Henry, $45,000; Luther, $37,000, and Gage. $(5,000) After all assets are sold and liabilities are paid, there is $77,000 in cash to be distributed. Gage is unable to pay the deficiency. The journal entry to record the distribution should be